The patent badge is an abbreviated version of the USPTO patent document. The patent badge does contain a link to the full patent document.
The patent badge is an abbreviated version of the USPTO patent document. The patent badge covers the following: Patent number, Date patent was issued, Date patent was filed, Title of the patent, Applicant, Inventor, Assignee, Attorney firm, Primary examiner, Assistant examiner, CPCs, and Abstract. The patent badge does contain a link to the full patent document (in Adobe Acrobat format, aka pdf). To download or print any patent click here.
Patent No.:
Date of Patent:
Mar. 29, 2011
Filed:
Oct. 15, 2008
Mark P. Jacobsen, Arlington, VA (US);
Mark P. Jacobsen, Arlington, VA (US);
Promontory Interfinancial Network, LLC, Arlington, VA (US);
Abstract
An automated method and computer program product are provided for processing a large deposit that exceeds an established deposit insurance limit so that the large deposit is fully insured. The large deposit is received from a depositor by a first one of a plurality of unaffiliated banks. A processor receives an order placed by the first unaffiliated bank to process the large deposit. The first unaffiliated bank offers a first set of deposit terms to a first depositor. The processor assigns a portion of the large deposit not exceeding the established deposit insurance limit to a second one of the plurality of unaffiliated banks. The second unaffiliated bank offers a second set of deposit terms to a second depositor. The processor calculates the amount of a present value payment to be transferred between the first unaffiliated bank and the second unaffiliated bank to compensate for differences between the first and second sets of deposit terms.